Mastercard has launched a new Start Path programme for security solutions to support startups offering cybersecurity, fraud prevention, and digital identity services.
The programme is an extension of Start Path, Mastercard’s startup engagement branch, which delivers support for new businesses to grow their operations in specialised areas such as blockchain, digital assets, fintech, Open Finance, acceptance, and more.
Mastercard is committed to cybersecurity through acquisitions, developments, and partnerships. Recently, the company acquired Record Future, a threat intelligence company, to create a better standard of trust in the payments ecosystem, democratise cybersecurity, and create new opportunities for businesses.
Its range of security solutions aims to assess cyber risk exposure, offering AI and other tech-driven tools to protect the digital environment and advance trust for individuals and businesses worldwide. Mastercard also broadens protection across networks and geographies through collaborations with entities such as the Global Anti-Scam Alliance.
Start Path’s programme supports the company’s broader goal to make the digital economy safer. This is further strengthened by Mastercard’s USD 10.7 billion investment in cybersecurity development.
About the startups
The first fintechs to participate in the programme are OneID, Scamnetic, Spec, VanishID, and Shield-IoT, following a global application and vetting process. OneID is a digital identity assurance technology firm that uses bank-based verification tools to offer a document-free method of identifying customer credentials.
Scamnetic offers patented, AI scam-detection solutions that prevent a wider range of scams, from phishing to deepfakes, aiming to protect customers in real-time. Spec monitors the entire customer journey during a digital transaction from the shadows to help brands detect and stop fraud, abuse, and bots in real-time globally.
VanisID is a startup that enables enterprise security teams to protect their employees by detecting and removing exposed personal data accessible online. Meanwhile, Shield-IoT secures mass-scale IoT networks, delivering visibility, threat management, and compliance with cellular-based payment devices to merchants.
